Pembrokeshire County Council is set to approve the Celtic Freeport final business case.
If approved, this will be a step towards securing a stronger economic future for the county.
The Freeport is intended to help Wales develop a competitive, inclusive, and sustainable economy.
Councillor Paul Miller, deputy leader and cabinet member for place, the region, and climate change, said: "Approval on Thursday will represent the next step in our journey to delivering the Celtic Freeport.
"The Celtic Freeport is part of our close collaboration with both UK and Welsh Governments and is designed to create the right conditions for investment and growth both here in Pembrokeshire and across the South West Wales region.
"The scale of the opportunity ahead for the Milford Haven Waterway and for Pembrokeshire is enormous and we are determined to ensure we maximise the opportunity this coming energy revolution offers to grow the Pembrokeshire economy, to secure investment and to create and sustain jobs.
"Nationally, the Celtic Freeport will unleash the full green industrial potential of Wales, accelerating the decarbonisation of our most carbon intensive industries and bringing new opportunities to our communities."
The decision will be made at a cabinet meeting on Thursday, October 3 at 2pm.
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